Cargill has announced its agreement to acquire 100% ownership of Teys Investments, an Australian beef producer. This acquisition marks a significant transition in ownership, as Teys has been jointly owned by the Teys family and Cargill for the past 14 years.
The Teys family, which has operated the business for over 75 years, has decided that now is the appropriate time to transfer its interests entirely to Cargill. This decision comes as part of a strategic move to ensure the continuity and growth of Teys Australia and Teys USA, two key operating companies in the beef industry.
Brad Teys, executive chairman of Teys, expressed pride in the family’s legacy and the company’s evolution into a leading global food brand. “Cargill has been instrumental in our transformation into a world-class food company,” he said. “We are confident they are the best owner to grow the business into the future.”
Jon Nash, executive vice president and leader of Cargill’s Food Enterprise, highlighted the importance of collaboration with Australian livestock producers, highlighting their pivotal role in the agricultural supply chain. “We are grateful to the Teys family for this opportunity to continue working alongside Australian livestock producers, who are pivotal to the agricultural supply chain,” Nash added.
This partnership aims to ensure the delivery of high-quality beef to consumers both domestically and internationally.
The completion of the acquisition is subject to customary regulatory approvals and is expected to finalise in the second half of 2025. Cargill plans to appoint a new CEO for Teys in due course, with a focus on facilitating a seamless transition alongside Brad Teys.
This acquisition is poised to enhance Cargill’s footprint in the beef market, particularly as consumer demand for high-quality, sustainably sourced protein continues to rise. The integration of Teys into Cargill’s operations is expected to leverage synergies in supply chain management and product innovation, further solidifying Cargill’s position as a key player in the global food industry.
by Siân Yates
Source: foodbev.com
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